Word: old
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Dates: during 1970-1979
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...basic monetary sense, something that foreigners have come to long for in the White House's increasingly ineffectual inflation fight. In the past year, not only have prices throughout the economy surged into double digits and stayed there, but the Administration's chief weapon in the struggle, its year-old voluntary wage and price guidelines program, has proved hopelessly inadequate to the task...
BERYL SPRINKEL: "I'm delighted," says Sprinkel, executive vice president of Chicago's Harris Bank. "The Fed's actions greatly increase the odds of getting inflation under control in the longer run." Sprinkel has long argued that the old policy of trying to control the money supply by fine-tuning key interest rates often forced the board to pump more funds into the economy than it wanted to, thus aggravating inflation. "Now that they are focusing on central control of [banking] reserves," he says, "and assuming they follow through, I think it assures that we are going...
...near freezing day in Boston, Nick Deane, 35, sees his dream in jeopardy. Two years ago, for $265,000, the novice developer had bought an incomparable old factory building for conversion into 21 condominium apartments and several offices. The 19th century structure, designated a historical landmark because it has one of the oldest cast-iron facades in the Northeast, commands spectacular views of Boston. Every unit in the planned conversion was sold before Deane went to the bank for his building loan. With 10% up front from every investor in the building and all the cash he could pull together...
...your tractor tires?" Aleksei Kosygin, the Premier, asked Farmer Bergland on his last Kremlin visit. "About every 4,000 hours," he answered. "Engines?" asked the cool-eyed Soviet, a fellow normally associated with missiles and megatons, not farm machinery. "Every 10,000 to 15,000 hours," replied Bergland. The old Russian thought a few seconds and then gave his people a short lecture about the disadvantages of the Soviet policy of replacement by the calendar, not actual need...
...premier political orators, even though it contained little that Castro had not said before. In Washington's view, the speech was primarily intended to enhance Castro's prestige as a senior statesman of the Third World. When he first addressed the U.N., in 1960, the 33-year-old Castro was a fledgling revolutionary, overshadowed by such neutralist giants as Yugoslavia's Josip Broz Tito, then 68, and India's Jawaharlal Nehru, 70. Castro has now survived for 20 years as Cuba's "maximum leader." He is also riding a wave of international prestige as chairman...